What Happens To A Car After A Total Loss Claim
Total loss claims can be difficult, costly and time-consuming for drivers. They can also be confusing, particularly when a payout is about to be issued on a totaled vehicle. Many drivers don't understand what will happen to a totaled vehicle after the claim and how they can get the best value out of the working parts and metal of their cars. This is quite an important part of the total loss process, as in some cases, a totaled vehicle can still be quite valuable.
Most auto insurance companies will offer to buy vehicles from their policy holders during total loss claims. Legally, a totaled vehicle is still the property of a driver until the driver decides whether to sell it, and many drivers look into other options. It's often possible to get a better value for a totaled vehicle by selling it directly to a scrap yard or another buyer, as insurance companies will often quote a low price for the value of a totaled vehicle. Even so, most drivers decide to sell their vehicles to insurance providers after total loss claims, as this is the simplest and easiest way to get an approximate value for the scrap metal and any working parts.
Research is important when deciding what to do with totaled vehicles. Some drivers might opt to sell the vehicle to a scrap yard if the scrap yard is offering a better value than the insurance provider, and some drivers opt to sell the individual parts from their damaged vehicles themselves. This can be a long and complex process, however, and most drivers will get a better overall value from a quick, uncomplicated sale. The best tactic is to call around to gauge the value of a totaled vehicle and to compare scrap yard rates with what the insurance company is offering. It's important to know which systems of a car are working and which are damaged, as this can greatly affect the value of the vehicle. Insurance company claims adjusters can often provide this information to a vehicle's owner.
While most drivers will ultimately decide to sell their vehicles to their insurance providers, it's worth the time to look around to try to find the best possible value. Insurance companies may offer a great price for a totaled car, but even non-mechanically minded drivers can make a few quick calls to make sure that they're getting a fair deal. After a total loss accident, drivers will often look for ways to improve their insurance payouts, but selling a vehicle to an insurance provider isn't always the best course of action.
